Transactions dived 24 per cent into September, according to statistics from LSL Property Services, while the average house price edged down 0.1 per cent to £225,374.

“A combination of dipping house prices and falling sales numbers point to a slowing market in September,” said LSL boss David Newnes, putting the stagnation down to “reduced buyer activity” and a “lethargic mortgage market”.

But the small monthly decline did not overturn the expansion through the year – prices were still 2.2 per cent higher than in last September, the data claimed.